please assist ne with that REQUIREDUse the information provided below to prepare the Statement of Financial Position of Glendale Limited as at31 May 2020.Ensure that the statement includes headings for Non-current assets, Current assets, Equity, Non-currentliabilities and Current liabilities. The notes to the financial statements are not required.INFORMATIONThe following balances were obtained from the accounting records of Glendale Limited after all theadjustments and closing transfers were completed on 31 May 2020:RShares in XYZ Limited600 0001434 000Ordinary share capitalRetained incomeLoan: Brits BankEquipmentAccumulated depreciation on equipment300 000150 0001 380 000180 000Inventory210 000Debtors control60 000Provision for bad debts3 000Accrued income6 000Bank (DR)69 000Cash float6 000Creditors control135 000Accrued expensesSouth African Revenue Services: Company tax payableShareholders for dividends (Dividends payable)42 00015 00072 000Additional informationR30 000 of the loan balance of R150 000 is expectedbe repaid during the next financial year.

Statement of financial position is one of the financial statements of a company that depicts its…

REQUIRED Use the information provided below to prepare the Statement of Financial Position of Glendale Limited as at 31 May 2020. Ensure that the statement includes headings for Non-current assets, Current assets, Equity, Non-current liabilities and Current liabilities. The notes to the financial statements are not required. INFORMATION The following balances were obtained from the accounting records of Glendale Limited after all the adjustments and closing transfers were completed on 31 May 2020: Shares in XYZ Limited 600 000 Ordinary share capital 1434 000 Retained income 300 000 Loan: Brits Bank 150 000 Equipment Accumulated depreciation on equipment Inventory Debtors control Provision for bad debts 1 380 000 180 000 210 000 60 000 3 000 Accrued income 6 000 Bank (DR) 69 000 6 000 135 000 Cash float Creditors control Accrued expenses South African Revenue Services: Company tax payable Shareholders for dividends (Dividends payable) 42 000 15 000 72 000 Additional information R30 000 of the loan balance of R150 000 is expected to be repaid during the next financial year.

REQUIRED Use the information provided below to prepare the Statement of Financial Position of Glendale Limited as at 31 May 2020. Ensure that the statement includes headings for Non-current assets, Current assets, Equity, Non-current liabilities and Current liabilities. The notes to the financial statements are not required. INFORMATION The following balances were obtained from the accounting records of Glendale Limited after all the adjustments and closing transfers were completed on 31 May 2020: Shares in XYZ Limited 600 000 Ordinary share capital 1434 000 Retained income 300 000 Loan: Brits Bank 150 000 Equipment Accumulated depreciation on equipment Inventory Debtors control Provision for bad debts 1 380 000 180 000 210 000 60 000 3 000 Accrued income 6 000 Bank (DR) 69 000 6 000 135 000 Cash float Creditors control Accrued expenses South African Revenue Services: Company tax payable Shareholders for dividends (Dividends payable) 42 000 15 000 72 000 Additional information R30 000 of the loan balance of R150 000 is expected to be repaid during the next financial year.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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